Sinclair (NASDAQ:SBGI) COO Sells $51,297.84 in Stock

Sinclair, Inc. (NASDAQ:SBGI) COO Robert Weisbord sold 3,672 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $13.97, for a total transaction of $51,297.84. Following the transaction, the chief operating officer directly owned 280,853 shares of the company’s stock, valued at approximately $3,923,516.41. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Robert Weisbord also recently made the following trade(s):

• On Monday, March 2nd, Robert Weisbord sold 10,000 shares of Sinclair stock. The stock was sold at an average price of $15.70, for a total value of $157,000.00.

Sinclair Price Performance

SBGI stock opened at $13.25 on Friday. The stock’s 50 day moving average price is $14.71 and its 200 day moving average price is $14.72. The firm has a market cap of $923.31 million, a P/E ratio of -7.89 and a beta of 0.94. The company has a debt-to-equity ratio of 11.78, a quick ratio of 2.42 and a current ratio of 2.42. Sinclair, Inc. has a 1 year low of $11.89 and a 1 year high of $17.88.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.07. Sinclair had a negative return on equity of 64.27% and a negative net margin of 3.53%.The company had revenue of $836.00 million during the quarter, compared to the consensus estimate of $840.25 million. During the same quarter last year, the business posted $2.61 earnings per share. Sinclair’s revenue was down 16.7% compared to the same quarter last year. On average, sell-side analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Tuesday, March 10th. Sinclair’s dividend payout ratio is -59.52%.

Analyst Ratings Changes

Several brokerages recently issued reports on SBGI. Wall Street Zen raised shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Weiss Ratings downgraded Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Wells Fargo & Company increased their price target on Sinclair from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. Finally, Benchmark raised their price objective on Sinclair from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Hedge Funds Weigh In On Sinclair

A number of large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its stake in shares of Sinclair by 142.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after buying an additional 1,065 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in Sinclair during the fourth quarter valued at about $32,000. Tower Research Capital LLC TRC increased its stake in Sinclair by 175.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock worth $41,000 after acquiring an additional 1,882 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in Sinclair during the third quarter worth about $48,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Sinclair in the 2nd quarter worth about $54,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

About Sinclair

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.